Havilah Resources Limited

Havilah Deals Uranium Assets for Equity Interest in HRE

Havilah Resources Limited (Havilah or the Company) (ASX: HAV) is pleased to report that it has entered into binding agreements with Heavy Rare Earths Limited (ASX: HRE) relating to a portion of its extensive uranium exploration assets in the Curnamona Province of northeastern South Australia (Figure 1).


HIGHLIGHTS

  • Binding agreements signed with Heavy Rare Earths Limited (HRE) conferring exploration and mining rights for various high calibre uranium assets on certain of Havilah’s exploration licences (Uranium).
  • Effectively monetises a portion of Havilah’s remaining uranium assets, providing Havilah with potentially significant uranium market exposure and uranium project development upside.

4.6m lbs Figure 1 Locations of uranium projects of note in the Curnamona Province in northeastern South Australia.The Havilah uranium areas, the subject of the agreements with HRE, are shown in orange and include the Prospect Hill, Billeroo-Namba and Radium Hill projects.The current Koba Resources Limited Yarramba uranium project earn-in with Havilah is shown in grey and includes the Oban and Mt John prospects.

The Uranium assets include:

1. The Radium Hill project – strike extensions of the historic Radium Hill uranium mine (but not including it)1 with significant discovery potential for uranium. HRE’s exploration and mining rights also extend to rare earth elements and scandium on the Radium Hill project.

2. An unexplored 15 km section of the Billeroo palaeochannel project immediately downstream from Boss Energy Ltd’s Goulds Dam deposit.

3. A lightly explored 35 km section of the Lake Namba palaeochannel project, with numerous wide- spaced historic uranium drill intersections.

4. Prospect Hill project area representing an untested possible geological analogue to the prolific Beverley-Four Mile uranium mining camp.

Key terms of the transaction involve:

1. Issue of 38 million fully paid ordinary shares in HRE to Havilah, half of which are subject to a 6 month voluntary escrow and the other half to a 12 month voluntary escrow (Consideration Shares).

2. Grant of 17.5 million unlisted options over HRE ordinary shares, each exercisable at 6 cents within a period of 3 years from the date of issue (Consideration Options).

3. An expenditure commitment of $3 million over 3 years, with a minimum commitment of $1 million within the first year.

4. Subject to the above, an ability for HRE to earn an 80% interest in the Uranium exploration and mining rights within certain Havilah exploration licences and an 80% joint venture interest in any discovery tenements that it applies for over a Uranium discovery.

5. HRE will free carry Havilah’s 20% joint venture interest in a Uranium discovery until completion of a bankable feasibility study, following which Havilah may elect to contribute or dilute to a 1.5% NSR (net smelter return) royalty on Uranium produced.

6. Completion of the transaction and consequent issue of the ordinary shares and grant of the options to Havilah and commencement of the joint venture earn-in is subject to the following conditions precedent:

A. HRE completing due diligence, to its sole satisfaction;

B. HRE obtaining shareholder approval for the issue of the Consideration Shares and Consideration Options; and

C. The parties obtaining all other shareholder, regulatory and third-party approvals, consents or waivers which are required to complete their respective obligations under the agreements (together the Conditions Precedent).

These terms have been effected by execution of a binding Term Sheet that sets out the commercial arrangements and a binding Tenement Access and Mineral Rights Agreement that governs the access rights of HRE to Havilah’s relevant exploration licences.

After this transaction with HRE and the earlier transaction with Koba Resources Limited (refer to ASX announcement 22 January 2024), Havilah still retains 100% ownership of several promising hard rock prospects including the Johnson Dam prospect (refer to ASX announcement 17 May 2023), the Homestead prospect (refer to ASX announcement 29 August 2023), the Birksgate prospect (refer to ASX announcement 15 January 2024) and the Coolibah palaeochannel.


Click here for the full ASX Release

This article includes content from Havilah Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

The Conversation (0)
North Shore Uranium (TSXV:NSU)

North Shore Expands Land Position at Rio Puerco

North Shore Uranium Ltd. (TSXV:NSU) ("North Shore" or the "Company") is pleased to announce that it has staked 27 additional mining claims (the "New Claims") at its Rio Puerco uranium project in northwestern New Mexico ("Rio Puerco" or the "Project"). The Project now includes 64 adjoining Bureau of Land Management ("BLM") claims.

In 2009, a historical uranium resource estimate of 6.0 million tonnes at an average grade of 0.09% eU3O8 for 11.4 million pounds of U3O8 was reported for Rio Puerco (the "Historical Resource"). Initial review of the historical data suggests the potential for in-situ recovery ("ISR") mining, the lowest cost method for producing uranium. The entire Historical Resource is located on the original 37 Rio Puerco claims (the "Original Claims"). Previously completed exploration work suggests that there is potential to expand the reported uranium mineralization on both the Original Claims and the New Claims.

Keep reading...Show less
Mart Wolbert, nuclear reactors.

Mart Wolbert: Uranium Prices, Supply, Demand — What's Next as Mindset Shifts

Mart Wolbert, analyst at Contrarian Codex, is seeing a uranium mindset shift as more investors take stock of the growing supply/demand imbalance in the market.

He explains how he's approaching uranium stocks and shares his price outlook.

Keep reading...Show less
xU3o8 Co-Founder Arthur Breitman.

From Nuclear to Blockchain: How xU3O8 is Reimagining Uranium Ownership

xU3O8 has reached a key milestone with the listing of its uranium-backed token across major crypto exchanges, opening the door for investors to gain direct exposure to uranium at a time when demand is accelerating, said Arthur Breitman, co-founder of Tezos, which provides the blockchain platform for xU3O8.

“xU3O8 is a tokenized asset. It represents tokenized beneficial ownership in uranium oxide,” Breitman explained. “And the platform uranium.io allows people to come in and then buy this tokenized ownership in uranium, which can be interesting for people interested in owning the commodity.”

Breitman also explained the advantages of buying tokenized uranium versus investing in uranium stocks or uranium funds.

Keep reading...Show less
Thor Energy (ASX:THR)

Term Sheet to Treat Colorado Project Uranium Waste Dumps and Gross Revenue Sharing Agreement with DISA Technologies

Pathway for Thor Energy PLC to potentially generate revenue from US Uranium and Critical Minerals Production

Thor Energy plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce the signing of a term sheet ("Term Sheet") with DISA Technologies, Inc. ("DISA") to seek to evaluate and if successful, treat historically abandoned uranium mine waste dumps ("Waste") and recover saleable uranium and other critical minerals concentrates at Thor's Colorado uranium claims. Thor holds 25% ownership rights to uranium minerals on U.S. Bureau of Land Management ("BLM") via its US subsidiary Standard Minerals Inc. ("Standard") that holds the projects (the "Colorado Projects") in Colorado in the United States, along with the 75% holder, London-listed Metals One PLC (AIM: Met1).

Keep reading...Show less
Saga Metals (TSXV:SAGA)

Saga Metals


Keep reading...Show less
Swedish flag with a yellow cross on a blue background, waving in the clear sky.

Sweden Moves to Lift Uranium-Mining Ban Through Legislative Proposal

Sweden has announced plans to lift its seven year ban on uranium mining, with a proposal to amend its Environmental Code and Minerals Act expected in parliament later this year.

If approved, the changes would take effect on January 1, 2026.

The proposal follows the conclusions of a government inquiry completed in December 2024, which recommended that uranium be treated under the same legal framework as other concession minerals. That recommendation was reviewed by the Council on Legislation in June 2025, clearing the way for parliament to consider a repeal.

Keep reading...Show less

Latest Press Releases

Related News

×